Govt vigilant over rising prices: Lahiri

The government today said it is vigilant and will not hesitate to take policy measures to contain rising prices.

"The government is vigilant and has taken steps. Let us hope inflation will remain under control," Ashok Lahiri, chief economic advisor,  said a day ahead of the release of crucial weekly inflation figures.

Wholesale price based inflation rose to a 13th month high of 5.42% for the week ended June 10 and there are concerns that it may rise further due to cascading effect of fuel prices and costlier food items.

"Policy making is a continuous process. As and when a response is required, the government will respond," Lahiri said when asked whether the central government is contemplating further measures to check inflation.

On interest rates, he said: "Wait for a decision by the US Federal Reserves on interest rates. The world will take cue from it."